Wells Fargo & Co Trims Blackrock Capital Investment (BKCC) Target Price to $6.00

Blackrock Capital Investment (NASDAQ:BKCC) had its price target cut by Wells Fargo & Co from $7.00 to $6.00 in a research note released on Thursday morning. The firm currently has a market perform rating on the asset manager’s stock.

A number of other analysts have also issued reports on the stock. ValuEngine lowered shares of Blackrock Capital Investment from a sell rating to a strong sell rating in a research note on Tuesday, October 2nd. BidaskClub lowered shares of Blackrock Capital Investment from a hold rating to a sell rating in a research note on Tuesday, September 25th. Finally, Zacks Investment Research upgraded shares of Blackrock Capital Investment from a sell rating to a hold rating in a research note on Monday, September 17th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $7.06.

Shares of NASDAQ:BKCC opened at $5.87 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market cap of $418.99 million, a price-to-earnings ratio of 8.04, a price-to-earnings-growth ratio of 9.08 and a beta of 0.65. Blackrock Capital Investment has a 1 year low of $5.48 and a 1 year high of $7.51.

Blackrock Capital Investment (NASDAQ:BKCC) last issued its quarterly earnings results on Wednesday, August 1st. The asset manager reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.03). The business had revenue of $21.31 million for the quarter, compared to analysts’ expectations of $22.87 million. Blackrock Capital Investment had a positive return on equity of 8.89% and a negative net margin of 8.00%. Analysts anticipate that Blackrock Capital Investment will post 0.65 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 8th. Investors of record on Monday, September 17th will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, September 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 12.27%. Blackrock Capital Investment’s payout ratio is 98.63%.

Several hedge funds have recently added to or reduced their stakes in the stock. LSV Asset Management increased its stake in shares of Blackrock Capital Investment by 6.5% during the second quarter. LSV Asset Management now owns 2,498,600 shares of the asset manager’s stock worth $14,566,000 after buying an additional 152,500 shares during the period. Telemus Capital LLC increased its stake in shares of Blackrock Capital Investment by 10.3% during the second quarter. Telemus Capital LLC now owns 1,883,880 shares of the asset manager’s stock worth $10,983,000 after buying an additional 175,360 shares during the period. Nissay Asset Management Corp Japan ADV increased its stake in shares of Blackrock Capital Investment by 2.9% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 541,466 shares of the asset manager’s stock worth $3,157,000 after buying an additional 15,025 shares during the period. Resource America Inc. increased its stake in shares of Blackrock Capital Investment by 23.8% during the second quarter. Resource America Inc. now owns 426,738 shares of the asset manager’s stock worth $2,488,000 after buying an additional 82,000 shares during the period. Finally, Guggenheim Capital LLC purchased a new stake in shares of Blackrock Capital Investment during the first quarter worth approximately $2,099,000. Hedge funds and other institutional investors own 34.08% of the company’s stock.

About Blackrock Capital Investment

BlackRock Capital Investment Corporation is an externally-managed, non-diversified, closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation through its debt and equity investments. The Company provides middle-market companies with a range of financing solutions, including senior and junior secured, unsecured and subordinated debt securities and loans, and equity securities.

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